Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Average Recommendation of “Moderate Buy” by Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $45.6250.

A number of research analysts have recently issued reports on HRMY shares. UBS Group dropped their target price on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price objective on shares of Harmony Biosciences in a research report on Monday, November 24th. Mizuho boosted their price objective on shares of Harmony Biosciences from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, December 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Finally, HC Wainwright restated a “buy” rating on shares of Harmony Biosciences in a research note on Wednesday, December 3rd.

Harmony Biosciences Price Performance

Shares of HRMY opened at $36.75 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75. Harmony Biosciences has a fifty-two week low of $25.52 and a fifty-two week high of $40.93. The firm has a 50-day simple moving average of $35.65 and a 200-day simple moving average of $33.74. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 0.38 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). The company had revenue of $239.46 million during the quarter, compared to analyst estimates of $222.68 million. Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. On average, equities research analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jeffrey M. Dayno sold 25,933 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.11, for a total value of $1,040,172.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its holdings in shares of Harmony Biosciences by 4,185.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after buying an additional 1,130 shares during the period. National Bank of Canada FI acquired a new position in Harmony Biosciences during the third quarter worth $40,000. Mirae Asset Global Investments Co. Ltd. raised its position in Harmony Biosciences by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after acquiring an additional 299 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Harmony Biosciences by 338.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,511 shares of the company’s stock valued at $111,000 after acquiring an additional 2,711 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Harmony Biosciences in the second quarter valued at $120,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.